Ongoing Insurance Coverage Clause Samples
Ongoing Insurance Coverage. The Company will use its best efforts to provide, for a period of not less than three (3) years after the Effective Time, past acts insurance coverage for no less than the four-year period immediately preceding the Effective Time under its (i) current directors and officers insurance policy (or comparable coverage), (ii) employment practices liability insurance and (iii) current bankers blanket bond (or comparable coverage) for each of the directors and officers of the Company and its Subsidiaries currently covered under comparable policies held by the Company.
Ongoing Insurance Coverage. First United will use its best efforts to provide, for a period of not less than four (4) years after the Effective Time, (i) Past Acts Insurance under its current directors and officers insurance policy (or comparable coverage), (ii) Employment Practices Liability coverage providing prior acts insurance and (iii) Past Acts coverage under its current Bankers Blanket Bond (or comparable coverage) for each of the directors and officers of First United currently covered under comparable policies held by First United.
Ongoing Insurance Coverage. Gateway Bank will use its best efforts to provide, for a period of not less than three (3) years after the Effective Time, (i) Past Acts Insurance under its current directors and officers insurance policy (or comparable coverage), (ii) Employment Practices Liability coverage providing prior acts insurance and (iii) Past Acts coverage under its current Bankers Blanket Bond (or comparable coverage) for each of the directors and officers of Gateway and Gateway Bank currently covered under comparable policies held by Gateway or Gateway Bank.
Ongoing Insurance Coverage. Express will use its best efforts to provide, for a period of not less than three (3) years after the Effective Time, (i) Past Acts Insurance under its current directors and officers insurance policy (or comparable coverage) and (ii) Employment Practices Liability coverage providing prior acts insurance for each of the directors and officers of Express currently covered under comparable policies held by Express.
Ongoing Insurance Coverage. Contemporaneously with the Closing, Northwest shall purchase an extended reporting period of not less than three (3) years after the Effective Time under Northwest’s existing directors and officers liability insurance policy (or comparable coverage), applicable to each of the directors and officers of Northwest and Northwest Bank, for purposes of covering actions occurring prior to the Effective Time.
Ongoing Insurance Coverage. The Bank will use its best efforts to provide, for a period of not less than three (3) years after the Effective Time, past acts insurance coverage for no less than the four-year period immediately preceding the Effective Time under its (i) current directors and officers insurance policy (or comparable coverage), (ii) employment practices liability insurance and (iii) current bankers blanket bond (or comparable coverage) for each of the directors and officers of the Bank currently covered under comparable policies held by the Bank.
Ongoing Insurance Coverage. SNB shall use its best efforts to provide, for a continuing period of not less than three (3) years following the Effective Time, past acts insurance coverage for no less than the four-year period immediately preceding the Effective Time, under its (i) current directors and officers insurance policy (or comparable coverage), (ii) employment practices liability insurance and (iii) current bankers blanket bond (or comparable coverage) for each of the directors and officers of SNB and its Subsidiaries currently covered under comparable policies held by SNB.